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accepted achieve argument balancing the budget benefits billion budget deficit Carter Congress conservative considered controls deal decisions decline defense demand depression disinflation econ Economic Advisers economic growth economic policy economists effect expansion expected fact Federal Reserve fiscal policy forecast free market full employment goal Herbert Stein high employment idea income tax incomes policy inflation rate inflationary interest rates Kennedy Keynes Keynesian labor liberal mainly ment monetarism monetarist monetary policy money supply Moreover national income Nixon nomic nominal GNP percent period political politicians poverty President price and wage price level price stability private investment probably problem productivity programs proposed raise taxes rate of growth recession recovery reduce regulation Republican restraint result rise Ronald Reagan Roosevelt saving social security spending supply-side supply-side economics target tax cut tax increase tax rates tax reduction theory tion total output unemployment unemployment rate wanted workers